The Isle of Wight Council is preparing to buy disused land on Pyle Street in Newport, more than decade after property there was torn down to make way for a development that never happened.
A decision is being finalised on the future of the space adjacent to Newport Fire Station and opposite Cineworld.
It used to be the home of the Shoulder of Mutton pub (latterly known as The Publican).
The pub was knocked down in 2011, long after the venue closed down.
The deputy leader of the Isle of Wight Council, cabinet member for housing and finance, Ian Stephens, is expected to rubber stamp its acquisition in the coming days.
The brownfield site of 0.5 acre, on the corner of Pyle Street and South Street will be bought from Homes England, which has owned it since 2016.
A report to the Isle of Wight Council says it could not be used for regeneration by the government organisation 'due to viability issues'.
Before that, there was a development plan to build a block of flats there.
The development of the area has been mooted since 2005.
The Isle of Wight Council has applied for £409,360 of grant funding from the Brownfield Land Release Fund (BLRF), with a plan to redevelop the grassy area, with some remaining slabs and bricks, but the deal must be finalised by March 31.
The report says if the Isle of Wight Council doesn't buy it, it is likely to be sold on the open market and bought for a development that would 'not enhance this key location nor deliver housing.'
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